How to Make 115JB right calculation

CA Aashish (BH) (45 Points)

21 September 2009  

Dear All

 
Following is my confusion on the applicability and calculation of MAT as per sec 115JB
  1. In the addition clause it is mentioned that the amount of depreciation is to be added back kindly correct me if it is not as per Companies Act Dep.
  2. In the deletion clause it was also mentioned that the amount of depreciation is to be deducted (other than on account of revaluation reserve) Here also I am taking depreciation as per Co. Act
  3. In the same segment it is mentioned that amount of loss (before depreciation) brought forward OR unabsorbed depreciation AS PER BOOKS OF ACCOUNT, whichever is less is to be added back. Now here please correct me whether I should take/consider the amounts as per Income Tax or as per Companies Act.
 
Please give your expert comment on the above ,I am also enclosing the computation as prepared by me. I have not considered the Bf loss /unab dep as per Income Tax Act
 
Regards
 
Aashish